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LOSS PER SHARE | 6 Months Ended
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Jun. 27, 2020
Earnings Per Share [Abstract] |
LOSS PER SHARE | NOTE 7. LOSS PER SHARE The following table represents the calculation of loss per common share – basic and diluted:
|  | Second Quarter |  |  | First Half |
(In millions, except per share amounts) |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Basic Loss Per Share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (439 | ) |  | $ | (24 | ) |  | $ | (394 | ) |  | $ | (16 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average shares outstanding |  |  | 53 |  |  |  | 55 |  |  |  | 53 |  |  |  | 54 |
Basic loss per share |  | $ | (8.34 | ) |  | $ | (0.43 | ) |  | $ | (7.46 | ) |  | $ | (0.29 | )
Diluted Loss Per Share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (439 | ) |  | $ | (24 | ) |  | $ | (394 | ) |  | $ | (16 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average shares outstanding |  |  | 53 |  |  |  | 55 |  |  |  | 53 |  |  |  | 54 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options and restricted stock |  |  | 1 |  |  |  | — |  |  |  | 1 |  |  |  | 1 |
Diluted weighted-average shares outstanding |  |  | 54 |  |  |  | 55 |  |  |  | 54 |  |  |  | 55 |
Diluted loss per share |  | $ | (8.19 | ) |  | $ | (0.43 | ) |  | $ | (7.31 | ) |  | $ | (0.28 | )
Awards of stock options and nonvested shares representing less than 1 million additional shares of common stock were outstanding for both the second quarter and first half of 2020, and less than 1 million for both the second quarter and first half of 2019, but were not included in the computation of diluted weighted-average shares outstanding because their effect would have been antidilutive. After obtaining approval of the Company’s shareholders on May 11, 2020, the Company’s Board of Directors determined to set a reverse stock split ratio of 1-for-10 for a reverse stock split of the Company’s outstanding shares of common stock, and a reduction in the number of authorized shares of the Company’s common stock by a corresponding ratio. The reverse stock split was effective on June 30, 2020. All share and per share amounts have been retroactively adjusted for all periods presented to give effect to this reverse stock split.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257 + Details
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